Reuters/Carlos Barria
Global stocks slumped Wednesday after the US and China threatened to impose hundreds of billions of dollars worth of tariffs on each other, escalating a trade war between the two largest economies. The dollar and Treasury yields rose.
Here is the scoreboard: See the rest of the story at Business Insider NOW WATCH: 5 science facts that 'Jurassic World: Fallen Kingdom' totally ignored See Also: GOLDMAN SACHS: Big-money investors are dominating the market with the help of 10 stocks - here's the list and how they can continue crushing it 'Something has to give': 3 trends...Read more ...

President Donald Trump released a list of $200 billion worth of Chinese goods that may be subject to tariffs.
The list represents a major escalation of the Trump-China trade war.
The list is massive, covering everything from tuna to wooden doors to industrial chemicals.
Check out the highlights below.
President Donald Trump escalated the trade war with China on Tuesday with the release more than $200 billion worth of Chinese exports to the US that could be subject to new tariffs.
As opposed to previous tariffs, which focused mostly on industrial goods, the roughly 200-page list runs the...Read more ...

President Donald Trump and China are engaged in a nasty trade war, with both sides hitting the other with large tariffs on a variety of goods.
In response to Trump's tariffs on Friday, China released a tariff list that will apply to $34 billion worth of US exports to China.
The list of goods affected by the tariffs includes soybeans, pork, fish, orange juice, and whiskey.
Here's a rundown of the major goods that will be subject to the new tariffs.
After months of threats and negotiations, the trade war between the US and China officially launched on Friday with both countries imposing...Read more ...

Smartphones are the largest single product category in China's exports to the US.
Reuters reported an estimated $15.7 billion from iPhone 7 and 7 Plus imports contributed to last year's trade deficit with China.
But further research reveals this number doesn't reflect the reality of the value China actually receives from its iPhone exports.
An iPhone's factory cost is about $240, but China only earns $8.46, or 3.6% of the total.
While China gets a lot of low-paid jobs, the profits actually flow to other countries.
The Trump administration's tariffs on China have so far targeted mostly...Read more ...